VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 2, 2016) - Bonanza Blue Corp. ("Bonanza") and Cannabis Royalties & Holdings Corp. ("CRHC") are pleased to announce that the Canadian Securities Exchange (the "CSE") has conditionally approved the listing of the common shares of CannaRoyalty Corp. ("CannaRoyalty") under the trading symbol "CRZ". CannaRoyalty is expected to be the resulting issuer to be created from the previously announced proposed three-cornered amalgamation of CRHC with a wholly-owned subsidiary of Bonanza (the "RTO").
Listing of CannaRoyalty's common shares is subject to, among other things, satisfaction of the customary listing conditions of the CSE and the completion of the RTO as contemplated in the agreement dated June 30, 2016 between CRHC and Bonanza. Subject to satisfaction of these and other conditions, a subsequent announcement will be made regarding the expected date for the commencement of trading.
"CannaRoyalty's public listing on the CSE will provide investors with a unique public vehicle to access the legal cannabis sector through a fully integrated portfolio of assets and interests, including royalties, in the United States and Canada," said Marc Lustig, Chief Executive Officer, CRHC.
As previously announced, upon closing of the RTO, the Board of Directors of CannaRoyalty is expected to be comprised of Marc Lustig, Greg Wilson, Robert Harris, Chuck Rifici and Dr. Jim Young. Marc Lustig is expected to be appointed as Chief Executive Officer of CannaRoyalty, together with Francois Perrault (Chief Financial Officer), Greg Wilson (Chief Operating Officer) and Todd Marcotte (Chief Marketing Officer).
A listing statement describing CannaRoyalty, prepared in accordance with the policies of the CSE, will be made available on SEDAR at www.sedar.com. The information regarding CannaRoyalty and the RTO in this press release is qualified in its entirety by reference to the more detailed disclosure included in the listing statement.
About CannaRoyalty Corp.
CannaRoyalty is a fully integrated, active investor and operator in the legal cannabis sector. Our focus is to build and support a diversified portfolio of growth-ready assets in key segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt and licensing agreements.
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information as to the Corporation's strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "will", "expect", "continue", "assess", "designed to prevent" and similar expressions identify forward-looking statements. Forward-looking statements in this press release include, but are not limited to, statements regarding the completion of the RTO and listing of CannaRoyalty. Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Corporation as at the date of this press release in light of each of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: regulatory risks; operational risks and/or operating or technical difficulties; the speculative nature of the cannabis industry; changes in national and local government legislation, taxation, controls, regulations or guidelines and/or changes in the administration of laws, policies and practices or political or economic developments in Canada, the United States and other jurisdictions in which the Corporation does or may carry on business in the future; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; unfavourable publicity or consumer perception; limited operating history; competition; the inability to open a bank account; requiring additional equity and/or debt financing to undertake capital expenditures or to undertake acquisitions or other business combination transactions; fluctuations in the currency markets; changes in U.S. dollar interest rates; risks associated with strategic acquisitions; unprofitability of research and market development activities; employee relations including loss of key employees or management; failure to obtain or maintain the necessary licenses, permits, authorizations or accreditations; litigation, formal or informal complaints, enforcements actions, and inquiries; product liability claims or any regulatory action; difficulty in reselling securities of CannaRoyalty Corp.; price volatility of publicly traded securities; the development of competing technology; difficultly implementing a business strategy; inability to obtain insurance; and lack of adequate personnel and expertise.
The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although management of the Corporation believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.